NEW YORK (S&P Global Ratings) April 5, 2018--S&P Global Ratings today assigned its 'BBB-' issue-level rating (the same as the 'BBB-' corporate credit rating) to Chesapeake, Va.-based discount dollar store retailer Dollar Tree Inc.'s proposed five-year $1.25 billion revolving credit facility, two-year $782 million term loan, and proposed unsecured notes offering. We understand Dollar Tree will use the proceeds to repay its existing $1.5 billion term loan A and $650 million term loan B, retire its $2.5 billion of 5.75% senior notes due 2023, and pay the related pre-payment premiums, fees, and expenses. We estimate, pro forma for the proposed issuance and debt repayment, leverage will remain largely unchanged and the company's average interest costs should improve moderately. Our 'BBB-'
